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Boost for who though? if it works out there'll be more for less. Wages won't increase, the number of jobs won't increase the price of assets will inflate. None

• visarga 3y ago
  > Wages won't increase, the number of jobs won't increase When new capability appears, many industries pop up. It's a new market, a new gold rush. It happened many times, with cars, electricity, air transport, computers, internet. AI will spring many applications and will create jobs in those fields. We have been under a 260 year run of industrial revolution and 70 years of computer programming. And yet unemployment is low and IT jobs are well paid. Why do we have so many jobs? The computers are 1 million times faster now than 25 years ago, more deployed and better networked. Where is that productivity gain hiding? If we try to be realistic, current crop AI amounts to about 1.2x productivity gain. It's a nice to have thing, but not essential yet. It's really nice. But makes errors often enough that it almost negates its advantages. Error recovery is very costly. I foresee economic growth driven by AI, and people with AI skills being very efficient and well paid. AI shines most when it is used and then evaluated by a skilled human.
  • barelyauser 3y ago
    >And yet unemployment is low and IT jobs are well paid Naive at best, tone deaf at worst. Unemployment is low? Most jobs barely allow a person to live a decent life. AI will empower few, the rest will find themselves unable to create any value. All the "economic growth" will be the increasing profits and economic inequality. When cars were created anyone could foresee the demand of people to manufacture them. Tell me, what jobs will AI create?